Colliers: Fort Bend real estate trends 1Q 2016

​​​FORT BEND COUNTY – Colliers has released its 1Q 2016 Fort Bend Snapshot report.

Office Market
The Fort Bend office submarket posted 71,384 sf of positive net absorption in 1Q2016. The average vacancy rate fell 120 basis points (bps) from 8.9 percent to 7.7 percent between quarters, and decreased 240 bps from 10.1 percent in 1Q2015.

Medical Office Market
The average quoted rental rate decreased only 0.7 percent from $25.82 to $25.63 per sf between quarters, but increased 1.0 percent from $25.11 per sf in 1Q2015. The vacancy rate decreased 20 basis from 12.4 percent to 12.2 percent over the quarter but decreased 170 basis points from 13.9 percent over the year.

Industrial Market
The average vacancy rate for the Fort Bend industrial submarket increased 30 bps from 3.2 percent to 3.5 percent between quarters and fell 190 bps from 5.4 percent in 1Q2015. The average quoted rental rate decreased 10.1 percent between quarters from $6.91 per sf NNN to $6.29 per sf NNN, and fell 5.7 percent annually from $6.67 per sf in 1Q2015.

Retail Market
The average asking rental rate for the Fort Bend retail submarket decreased 2.5 percent between quarters from $20.39 per sf to $19.89 per sf and decreased by 1.4 percent from $20.18 per sf in Q1 2015. The submarket recorded 34,353 sf of positive net absorption in 1Q2016 and the vacancy rate decreased by 20 basis points over the quarter.